The increasing number of failing JSE-listed companies – coupled with devastating government policies and corruption – is making South Africa ever more uninvestable, warned Nick Pitro (a senior consultant at wealth manager Asuten Morris Associates) on Thursday.
… barely a week goes by without a former favourite South African share collapsing in price because of outright fraud, corporate governance failings, corruption or sheer incompetence. The private sector seems to be joining the government’s corruption party. There is a ‘last days of Rome’ vibe on the JSE right now…— Nick Pitro, senior consultant - Asuten Morris Associates
Pitro suggests getting as much money offshore as quickly as possible.
Staying invested in local assets is likely to erode your wealth over time.— Nick Pitro, senior consultant - Asuten Morris Associates
…many of the world’s best companies are American...— Nick Pitro, senior consultant - Asuten Morris Associates
Listen to the interview in the audio below (and scroll down for quotes from it).
I’m a patriotic South African… but the reality is… we’re faced with turmoil… …offshore is the place to be…— Nick Pitro, senior consultant - Asuten Morris Associates
We believe there is great value in the US…— Nick Pitro, senior consultant - Asuten Morris Associates
The JSE… our investments are essentially going backwards… What if South African companies don’t recover?— Nick Pitro, senior consultant - Asuten Morris Associates
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
Arabile Gumede interviews Discovery Life chief executive officer Hylton Kallner on The Money Show.
Unless you're über-rich, saving money is a must. But it’s not easy. Arabile Gumede talks to personal finance expert Warren Ingram.
Merchants are not allowed to process refunds on debit cards, warns consumer journalist Wendy Knowler.
The offer was unsolicited. Bruce Whitfield interviewed Matome Ratlabala, Chief Investment Officer at Africapaciti Group.
FNB is targeting unbanked township businesses with its financial products. Bruce Whitfield interviews GG Alcock ("KasiNomics").
Personal finance expert Warren Ingram discusses ways to reduce your monthly expenses.
Income or equity – what is the difference?
The US market has a big impact on all markets and when they get flu, South Africa sneezes.
Anglo American delivered a 2019 profit attributable to equity shareholders of 3.5-billion USD
Discovery is soothing investors' nerves after a warning earlier this week that it would report a double digits loss.
Absa managing executive customer value management Christine Wu explains why and how you can solve it.
He has dismissed the Democratic Alliance's claims that he was pressured to resign as as a special advisor to Lindiwe Sisulu.
The observation was made in a preliminary report into land-based public passenger transport by the commission.
COJ Library and Information Services director Nobuntu Mpendulo says they attract the youth by using electronic devices.
The president also apologised to South Africans about the way in which the gender-based violence matter was debated.
Azania Mosaka spoke to admin and media consultant of the page Vanessa Raphaely.